CEFC receives $2 billion funding boost for renewable energy investments
The additional capital for Australia's 'green bank' will support renewable energy projects, drive private investment, and create jobs.

The Clean Energy Finance Corporation (CEFC) has welcomed an additional $2 billion in funding from the Australian Government, increasing its total investment capacity to $32.5 billion. This is the first time the CEFC’s general portfolio has received a funding increase since its establishment in 2012.
Prime Minister Anthony Albanese and Climate Change and Energy Minister Chris Bowen announced the allocation, which is subject to parliamentary approval. The funding is intended to support renewable energy projects, including energy generation and storage, infrastructure, electric vehicles, and energy-efficient property developments. It is also expected to unlock $6 billion in private investment from local and international organisations.
CEFC CEO Ian Learmonth described the funding as a demonstration of government backing for the organisation’s work. “This represents the first increase in the investment capacity of the CEFC General Portfolio since we were established in 2012, with access to $10 billion in capital,” Mr Learmonth said.
“We expect this additional capital to be particularly important in increasing investment in much-needed renewable energy generation and energy storage projects, which are central to delivering on our national emissions ambitions.”
Over its lifetime, the CEFC has committed close to $18 billion in investments across more than 380 major projects, resulting in estimated lifetime emissions savings of over 160 million tonnes. Capital repayments and returns from its investments have contributed to new projects, allowing the CEFC to reinvest over $14 billion to date.
In 2024 alone, the CEFC supported over $4 billion worth of clean energy projects, generating around $12 billion in private investment and supporting more than 4,000 jobs. Notable initiatives include the Neoen Culcairn Solar Farm in New South Wales, which is set to create more than 400 construction jobs and deliver $10 million in local benefits, and the Collie Battery Stage 2 in Western Australia, expected to provide 150 construction jobs.
The CEFC also plays a key role in reducing emissions for Australian households and businesses. By partnering with retail banks and consumer organisations, it offers discounted loans to encourage the uptake of renewable energy and energy-efficient technologies. To date, close to 80,000 smaller-scale clean energy investments have benefited from CEFC funding.
The CEFC’s expanded investment capacity comes at a critical time, as Australia works to transition from coal and meet its emissions reduction targets. The Australian Energy Market Operator (AEMO) projects that investment in new energy infrastructure will support over 60,000 energy jobs in the next two decades, driven by the need to replace retiring coal capacity with renewable alternatives.
Minister Bowen emphasised the opportunity for Australia to capitalise on its abundant renewable energy resources. “The world is shifting to net zero. That means there are big opportunities and big benefits for Australia, so long as it acts now to make the most of demand for clean energy and inputs globally,” he said.